The Dow Jones index ended 0.7 percent higher at 31,041.13 points. The broad-based S&P 500 won 1.5 percent to 3803.79 points and tech gauge Nasdaq gained 2.6 percent to 13,067.48 points. These were new records for all three indicators.
It will soon be much easier for president-to-be Joe Biden to implement his policies now that he no longer has to fear Republican opposition in the Senate. This means, among other things, that the widespread economic support that Democrats have fervently given will be given virtually free rein.
The buzz on the trading floors was in spite of the riots in the Capitol that broke out on Wednesday. Angry supporters of President Donald Trump invaded the parliament building. Democratic congressional leaders Chuck Schumer and Nancy Pelosi are now demanding that Trump be impeached.
Tesla was up 8 percent after RBC Capital Markets analysts increased their advice for the electric car maker. CEO Elon Musk overtook Amazon founder Jeff Bezos as the richest person on earth thanks to that profit.
Credit card company American Express fell 1 percent after reports of a US law enforcement investigation into potentially unfair selling practices. L Brands also advanced 2.6 percent. The company behind lingerie brand Victoria’s Secret reported that sales during the holiday season were above expectations.
A barrel of American oil was worth 0.7 percent more at $ 50.96. Brent oil gained 0.4 percent to $ 54.51 a barrel. The euro was worth $ 1.2270, compared to 1.2268 at the close of the European stock markets.
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